Equinor — Board/Management Information 2010

Aug 19, 2010

Changes in Statoil's corporate structure and Corporate Executive Committee

Statoil ASA will change its organisational structure as a response to future

business opportunities and challenges, and to support a continued strong

development of the company. The new organisation will reflect the ongoing

globalisation of Statoil, leverage the position on the Norwegian Continental

Shelf and simplify internal interfaces to support safe and efficient operations.

The changes are planned to take effect from 1 January 2011.

During recent years Statoil has reinforced its leading position on the Norwegian

Continental Shelf (NCS). A new offshore operating model was implemented last

year, and important steps have been taken to further improve HSE and to

industrialise and standardise operations in order to maximise resource

utilisation on the NCS. Statoil has in the same period grown its global

footprint substantially. Today more than 25 percent of the daily production

comes from Statoil's international portfolio. Statoil has also taken important

steps to grow its portfolio within renewable energy.

- A broader and more global business portfolio is an important driver for the

changes we make. The new corporate structure reinforces the execution of our

global growth strategy and increases our efficiency through a simplified

organisational structure. In parallel we adapt to a different future on a more

mature NCS still providing rich opportunities for Statoil, says President and

Chief Executive Officer Helge Lund.

- With a more diversified top management and important leadership positions

established outside Norway we also accelerate development of a stronger internal

leadership pipeline. That's important for the long term development of Statoil,

Lund adds.

It is three years since the merger between Statoil and Hydro's oil and gas

activities. This enabled Statoil to realise close to NOK 10 billion in merger

synergies and cost savings. The announced changes in the corporate structure are

growth and development driven, and will not result in redundancies.

-  In this three year period we have made good progress, and we have a solid

foundation for a continued strong development of Statoil. Our strategy remains

firm. We will take out the full potential of the Norwegian Continental Shelf,

build international growth platforms and gradually strengthen our position

within renewable energy. We have a competent organisation and motivated people.

With a strong resource base and a balanced portfolio we are ready to take on new

challenges, says Helge Lund.

Statoil's new corporate organisational structure and Corporate Executive

Committee (CEC) will besides president and Chief Executive Officer (CEO) Helge

Lund, be as follows:

* Development and Production Norway, EVP Øystein Michelsen, located in

Stavanger

* Development and Production International, EVP Peter Mellbye, located in Oslo

* Development and Production North America, EVP Bill Maloney, located in

Houston

* Marketing, Processing and Renewable Energy, EVP Eldar Sætre, located in

Stavanger

* Technology, Projects and Drilling, EVP Margareth Øvrum, located in Stavanger

* Exploration, EVP Tim Dodson, located in Oslo

* Global Strategy and Business Development, EVP John Knight, located in London

* Chief Financial Officer, EVP Torgrim Reitan, located in Stavanger

* Chief of Staff, EVP Tove Stuhr Sjøblom, located in Stavanger

Rune Bjørnson, Jon Arnt Jacobsen, Gunnar Myrebøe and Helga Nes will from January

2011 leave their positions in the CEC. It is a wish and ambition both for the

company and themselves that they continue in new roles in Statoil.

- The new team balances renewal with continuity, increases diversity and creates

new opportunities for the next generation of leaders. At the same time I look

forward to working with the colleagues leaving the CEC in new positions in

Statoil, says Helge Lund.

Over the past few years Statoil has made significant investments in North

America. Establishing Development and Production North America as a separate

business area reflects the importance of the region, it moves top leadership

closer to the operations and is a natural step to secure the investments and

contribute to further growth.  Together with Development and Production Norway

and Development and Production International it covers our upstream activities.

The current business areas Manufacturing & Marketing, Natural Gas and the New

Energy unit of the existing Technology and New Energy (TNE), will merge into a

new business area for Marketing, Processing and Renewable Energy. This creates

synergies in the operation of onshore plants and in the market related

activities.

The new business area Technology, Projects and Drilling will combine the

existing Technology unit of TNE with the Projects and Procurement business area,

and the Drilling and Well unit in the existing Exploration and Production Norway

(EPN). Joining these forces simplifies work processes and reduces the numbers of

internal interfaces significantly.

Finally Exploration and Global Strategy and Business Development will constitute

two new business areas driving core processes across the company. This underpins

Statoil's growth ambition, and will contribute in the continued pursuit of value

creation through both organic and inorganic moves in the further development of

the company.

The current organisational structure and Corporate Executive Committee will

remain in charge of operations and business development until the planned

implementation 1 January 2011. In the months ahead, a project team under the

leadership of the coming Chief of Staff Tove Stuhr Sjøblom will drive the

process of detailing out the new organisation in close cooperation with employee

representatives.

Media are invited to a briefing with President and CEO Helge Lund today on

August 19 at 11.00 - 12.00. Please meet in the reception of entry , Forus Øst in

Stavanger.

Facts: new appointees to the CEC, planned to take effect 1 January 2011:

Exploration

Tim Dodson is a UK citizen, and has 25 years of experience from Statoil. He

comes from the position as Senior Vice President (SVP) for Global Exploration in

Statoil's current business area for international operations. From 2004 - 2008

he held the position as SVP for Exploration in the Exploration and Production

Norway business area. Between 2002 and 2004 Dodson was VP Technology Arena,

Exploration. Before this he served as HR manager and advisor at Statfjord, and

as VP Exploration Southern North Sea. Dodson holds a BSc in Geology and

Geography from the University of Keele.

Global Strategy and Business Development

John Knight is a UK citizen, and joined Statoil in 2002 and comes from the

position as Senior Vice President (SVP) for Business Development and Strategy

and Global Unconventional Gas in the current business area for international

operations in Statoil (INT). From 2004 - 2009 Knight was SVP for Business

Development in the current business area INT. When he started in Statoil in

2002, Knight was SVP for International Production and Development.  Prior to

this Knight held various positions in energy investment banking including  at

Chase Manhattan Bank, Union Bank of Switzerland and Salomon Brothers from 1987

to 2002. He trained and practised as a lawyer from 1977 to 1987 in private

practice and at Shell International Petroleum in London from 1980 to 1987. John

Knight holds undergraduate and post graduate degrees in law from Cambridge

University and the Inns of Court School of Law in London.

Development and Production North America

Bill Maloney is a US citizen, and has a background as Senior Vice President

(SVP) for Global Exploration in Statoil's current business area for

international operations. Before joining Statoil in 2002, Maloney was VP for

Exploration and New Ventures in Texaco since 1995. Before this he held various

positions in Shell. Bill Maloney holds an MSc in Geology from Syracuse

University.

Chief financial officer (CFO)

Torgrim Reitan is a Norwegian citizen, and has fifteen years experience from

Statoil and comes from the position as Senior Vice President (SVP) in charge of

Trading and Operations in the current business area Natural Gas, located in

London. From 2004 - 2007 Reitan held the position as SVP CFO Performance

Management and Analysis. Prior to this he was department manager for Corporate

Planning and Analysis, and held various roles in the CFO organisation. Torgrim

Reitan holds a Master of Science degree from the Norwegian School of Economics

and Business Administration - NHH.

Chief Staff Officer (CSO)

Tove Stuhr Sjøblom is a dual Norwegian/Canadian citizen. She has worked in

Statoil since the merger, and before this for 16 years in Hydro. She comes from

the position as Senior Vice President (SVP) for Exploration in the current

Exploration and Production Norway (EPN) business area. Before this she held the

position as VP Exploration, Strategy and Environment in EPN. Prior to the merger

between Statoil ASA and Hydro oil and gas, Stuhr Sjøblom was Asset Manager at

Hydro's Ormen Lange from 2004 - 2006. Between 2000 and 2004 she was Exploration

Manager for Hydro in the North Sea and before this in Canada. Previously Stuhr

Sjøblom held various positions as geologist and project manager for exploration.

Tove Stuhr Sjøblom holds a MSc from the Norwegian University for Technology and

Natural Sciences (NTNU).

For biographies on current CEC-members and those continuing after the changes

take effect see: statoil.com

Contacts:

Lars Troen Sørensen, direktør, Investor relations

Mob: +47 906 49 144

Press

Jannik Lindbæk Jr.

Mob. +47 97755622

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

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